Har­mo­ny Bio­sciences sets terms on $100M IPO; FDA ac­cepts a Pro­tal­ix BLA for re­view

Paragon port­fo­lio com­pa­ny Har­mo­ny Bio­sciences an­nounced its IPO terms on Tues­day, which set a range of $20 and $23 a share.

The Penn­syl­va­nia-based com­pa­ny, which ini­tial­ly filed for a $100 mil­lion IPO weeks ago, plans on of­fer­ing 4.7 mil­lion shares. It seeks to raise rough­ly $100 mil­lion, which will fund the clin­i­cal ad­vance­ment of its drug pitolisant.

Jeff Aronin — who serves as chair­man of the Har­mo­ny board — stirred up con­tro­ver­sy sev­er­al years ago when he di­rect­ed an old steroid he picked up cheap to Duchenne MD pa­tients for $89,000. But that isn’t the on­ly dra­ma on the ex­ec­u­tive board — for­mer CEO Bob Re­pel­la pled guilty to mail fraud in May in a col­lege ad­mis­sions scan­dal.

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